NEW DELHI: Parent firm of ArcelorMittal Nippon Steel India (AMNS), a joint venture between ArcelorMittal and Japan’s biggest steelmaker Nippon Steel Corp, has signed a $5.15 billion (nearly Rs 38,000 crore) loan agreement with a consortium of lenders to refinance the debt taken by the company for acquiring Essar Group’s steel plant at Hazira in Gujarat, ArcelorMittal said.
“AMNS Luxembourg Holding S A (AMNS), the parent firm of the AMNS India JV between Nippon Steel Corporation and ArcelorMittal, entered into a $5.146 billion ten-year term loan agreement with Japan Bank for International Cooperation, MUFG Bank, Ltd, Sumitomo Mitsui Banking Corporation, Mizuho Bank Europe N V and Sumitomo Mitsui Trust Bank, Limited (London Branch),” ArcelorMittal said.
The resolution plan, which was approved for AMNS India, was of Rs 42,785 crore. It included Rs 8,000 crore capital injection.